Blum Holdings Inc (BLMH): Financial Update "...the Company gene...

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Sunday, 08/18/2019 9:36:06 PM

Sunday, August 18, 2019 9:36:06 PM

Financial Update

"...the Company generated revenues of approximately $10.37 million, compared to approximately $8.72 million for the second quarter ending June 30, 2018, an increase of approximately $1.65 million or 19%. The increase was primarily due to increased Cannabis revenues due to our Dispensary year-over-year growth of $0.95 million or 14.0% due to increased customer traffic and higher average sale amounts. Also driving the increase is the development of cultivation and production operations, which accounted for $0.58 million of the increase. The Herbs & Produce division increased by $0.12 million year-over-year."

"Gross margin for the period ending June 30, 2019 was approximately 47.4% compared to approximately 42.1% for the second quarter ending June 30, 2018. The increase in Gross Margin was primarily due to operational improvements in the cannabis segment."

"Selling, general and administrative expenses for the period ending June 30, 2019 were approximately $12.05 million, compared to approximately $9.86 million for the second quarter ending June 30, 2018."

"The Company reported a Gain on Interest in Joint Venture of $0.35 million for the period ending June 30, 2019, due to measurement period adjustments recorded for the consolidation of the Nuleaf joint venture."

"The net loss attributable to Terra Tech for the period ending June 30, 2019 was approximately $10.14 million or $0.10 per share compared to a loss of approximately $9.97 million or $0.15 per share for the second quarter ending June 30, 2018."

"The Company had $1.9 million in cash as of June 30, 2019, compared with $7.2 million as of December 31, 2018."

"Stockholders’ equity for the period ending June 30, 2019 amounted to approximately $110.14 million, an increase of approximately $15.27 million compared to approximately $94.87 million as of December 31, 2018."

https://www.terratechcorp.com/news-media/press-releases/detail/265/terra-tech-corp-reports-financial-results-for-the-second

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